educational loan was sanctioned for 4 yrs engg study.
first year instalment was disbursed. interest was paid promptly for that year by borrower.
second year instalment was not released by bank . no reasons assigned.
The borrower was forsed to go for private loan to continue education.
after completion, the borrower is under employer for poor salary. The borrower is caught between private lenders and bankers.
the bankers refuse to answer why second instalment onwards was not disbursed. Instead they employ coercive methods(physical threats to borrower).
what is the way out ? the borrower is not a position to repay now to the banker since the private borrowing
is more thretening interest.
please advise if there is any possibility for waiver /reduction of interest/principal defereed payment
